Us Code § 230313 - Termination of existence and distribution of assets
Full text of Us Code United States Code § 230313 — Termination of existence and distribution of assets, with citation guidance and answers to common questions.
§ 230313. Termination of existence and distribution of assets
(a)
(b)
(2) The court shall take jurisdiction when—
(A) the declared event has occurred; and
(B) a petition is filed with the court reciting the relevant facts.
(3) On proof of the facts, the court shall enter an order vesting title and ownership in accordance with the resolution of the national convention.
(Pub. L. 105–225, Aug. 12, 1998, 112 Stat. 1485.)
| Revised Section | Source (U.S. Code) | Source (Statutes at Large) |
|---|---|---|
| 230313 | 36:779. | July 18, 1958, Pub. L. 85–530, §19, 72 Stat. 375. |
In subsection (a), the words "declare that the corporate existence will terminate on the occurrence of a specified event" are substituted for "declare the event upon which the corporate existence of the organization is to terminate" for clarity. The word "satisfaction" is omitted as included in "discharge", and the word "obligations" is omitted as included in "liabilities". The word "outstanding" is omitted as unnecessary.
In subsection (b)(1), the word "duly" is omitted as unnecessary. The word "must" is substituted for "shall" for clarity because the filing is only required if the national convention decides to exercise its discretionary authority under subsection (a).
In subsection (b)(2)(B), the word "relevant" is substituted for "said" for clarity.
In subsection (b)(3), the word "due" is omitted as unnecessary. The word "order" is substituted for "decree" for consistency in the revised title and with other titles of the United States Code. The word "vesting" is substituted for "which shall be effective to vest" to eliminate unnecessary words.
CHAPTER 2305—VIETNAM VETERANS OF AMERICA, INC.
About This Section
36 U.S.C. § 230313 is part of Title 36 of the United States Code. The United States Code is the official codification of federal statutes maintained by the Office of the Law Revision Counsel of the U.S. House of Representatives. Congress amends the Code through new public laws, which are eventually incorporated into the relevant title.
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